Question 8 of 9 - / 4 Here are the comparative income statements of Whispering Winds Corporation. WHISPERING WINDS CORPORATION Comparative Income Statements For the Years Ended December 31 December 31, 2022 December 31, 2021 Net sales $730,000 $470,000 Cost of goods sold 443,000 332.000 Gross profit 287,000 138,000 Operating expenses 142,000 120,000 Net income $145,000 $18,000 Prepare a horizontal analysis of the income statement data for Whispering Winds Corporation using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g.-55,000, -12.1% or (55,000), (12.1%). Round percentages to 1 decimal place, e.g. 12.1%.) WHISPERING WINDS CORPORATION Comparative Income Statements For the Years Ended December 31 Increase or (Decrease) During 2022 December 31, 2022 December 31, 2021 Amount Percentage Net sales $730.000 $470,000 $ Cost of goods sold 443,000 332,000 Gross profit 287,000 138,000 Operating expenses 142,000 120,000 Net income $145,000 $18,000 $ Prepare a vertical analysis of the income statement data for Whispering Winds Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) WHISPERING WINDS CORPORATION Comparative Income Statements For the Years Ended December 31 2022 2021 $ Percent Percent Net sales $730,000 % $470,000 % Cost of goods sold 443,000 % 332,000 % Gross profit 287,000 % 138,000 % Operating expenses 142,000 % 120,000 % Net income $145,000 % $18,000 % Save for Later Attempts: 0 of 3 used Submit